The National Flood Insurance Program (NFIP) underwent some structural changes brought about by the passage of the Biggert Waters Flood Insurance Reform Act of 2012. The intent of this act was to address the issue of insufficient funding of the NFIP resulting from historically subsidized insurance premiums. The greater frequency of claims and the rising ...
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My two most recent blogs analyzed Destin gulf front condominiums and detached single-unit residences. Here I’ll talk about the residential vacant land sector in Destin, primarily recorded platted lots. There has been an oversupply of land in Destin for several years. Months inventory is 16.70. What does months inventory mean? This reflects how many months ...
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I don’t own a condominium. If I ever purchase one it will be in Destin. Because residential amenities are very good; shopping, dining, fun. Moreover, I like the older low density gulf front projects. An older project usually means high reserves. So when a special assessment is needed, say for storm damage or replacing doors ...
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First, I break up the properties in Destin into three sectors: Vacant Land, Detached Single Unit, and Condominiums. I expect inventory in the Det. SFR sector in Destin to increase. It’s steadily increased the past three months. Beginning in April, inventory will decrease due to seasonal influences. I think there will be a nice jump ...
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Earlier this year, I developed an exterior only appraisal on a condominium across the street from the Gulf of Mexico. As a result, I’m unable to physically inspect the interior of the unit and see any views. The listing agent writes in the MLS sheet, “gorgeous gulf views.” The problem is that the agent had ...
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What do we mean by Principled Advice Always? Two things: sound advice based on real estate principles AND honest accurate interpretation of market data. By example, the Principled of Substitution states that when there are several commensurate products, goods or services are available, the one with the lowest price will attract the greatest demand and ...
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